Nufarm shares slide as its buyout by Sinochem stalls

Nufarm shares slide as its buyout by Sinochem stalls

Shares in chemical manufacturer Nufarm (ASX:NUF) have fallen in value by 9% since the company announced yesterday it had yet to settle on the terms of its acquisition by Sinochem.

NUF has fallen from an opening price of $11.60 yesterday to $10.55 today. At its lowest point today, NUF was trading at $10.40.

Nufarm had expected to settle on a transaction implementation agreement by tomorrow, but has been told that Sinochem is still assessing the results of its due diligence investigation.

This delay, coupled with a small number of issues which have yet to be resolved, will keep the parties at the negotiating table past December 3, Nufarm said.

Sinochem’s offer price of $13.00 per share has remained unchanged.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsNufarmSinochem

Show Comments